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Money and Finances
Reply to "Canceling $10k of student loan debt is stupid."
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I think they should just lower the interest.[/quote] I agree. The loans for education should be 0 or very low interest. [/quote] So the math is tricky, but they did actually address this. Under the new plan as long as you're enrolled in IBR and making payments (even if the payment is 0), interest won't accrue. This is the real game changer.[/quote] No it is not. It’s like giving everyone $10,000 to buy a car. A week later …oh look all cars cost $10,000 more. This will just raise the cost of college. [/quote] There isn't forgiveness going forward so it won't have this impact--only loans issued before June 30. We still need more work to address college affordability, but this action doesn't worsen it.[/quote] College deans are absolutely going to jack up prices and build that gold-plated faculty lounge, now that they know that the government will just bail students out.[/quote]
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